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Nov 26, 2012
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what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both parties. the one tax that goes up january 1, if there's a deal s payroll tax, which i think is wrong. republicans have a opportunity to be champions of the working class. >> kirsten, some democrats are saying let's go over the cliff. everybody's tax rates are going to go up and then the president in january can go to congress and say now it's 39.6% and whatever it is for middle class and i'll present a plan that will cut the tax rates of 98% of people, are you prepared now, when the rate is already up, to oppose that? >> the problem with that plan is it's dangerous because we don't know ho
what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both...
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Nov 25, 2012
11/12
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with tax hikes if a bush tax cuts expire. tell me about how the political file would be sliced? they want to protect the entitlement programs because of the people who depend on them. by the way guys obama care is not even ang option. don't go there talking about getting rid of that or trying to repeal it. >> i think what republicans -- i don't think they want to cut entitlement programs i think what they are trying to do, anybody who is dealing with reality right now can look at the spending curves of social security and medicare and medicaid and see that they are going towards bankruptcy. social security for example right now congress has for so long been stealing money from the social security fund. we are years away from that flipping so that your taxes to pay social security. >> let me jump in. i understand that argument as well in terms of having the entitlement programs basically bankrupt the system. not saying the gop wants to cut it across the board they want to limit it. talk to the people, though, we start to hear social security going out the window and some of the e
with tax hikes if a bush tax cuts expire. tell me about how the political file would be sliced? they want to protect the entitlement programs because of the people who depend on them. by the way guys obama care is not even ang option. don't go there talking about getting rid of that or trying to repeal it. >> i think what republicans -- i don't think they want to cut entitlement programs i think what they are trying to do, anybody who is dealing with reality right now can look at the...
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Nov 24, 2012
11/12
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in determines of higher dividend taxes and higher taxes on just about every piece of the economy and i tell you, don't believe me, go out there and talk to them. they started cutting back way before this last week. >> i want to take this point. >> and this is the problem, the fiscal cliff is really bad, but the solution offered by president obama of massive taxes is not that good. >> julian, what do you make of that this this is just a pandora's box, and the beginning. the fiscal cliff, could have a short-term impact, but ultimately the trend of higher taxes that charlie's point, is what businesses are really afraid of? >> i totally disagree with that and i think the surveys of businesses have shown that to be wrong and i talked to-- >> whoa, whoa, what survey. >> can i finish the point, charlie. >> you just said survey. >> we'll come back. >> i think that businesses are concerned mostly about whether consumers are going to spend or the not. that's the concern and i think as for the fiscal cliff, no, i don't think that's what it is and as for the fiscal cliff, anybody paying close at
in determines of higher dividend taxes and higher taxes on just about every piece of the economy and i tell you, don't believe me, go out there and talk to them. they started cutting back way before this last week. >> i want to take this point. >> and this is the problem, the fiscal cliff is really bad, but the solution offered by president obama of massive taxes is not that good. >> julian, what do you make of that this this is just a pandora's box, and the beginning. the...
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Nov 24, 2012
11/12
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why pete carol arrived and donations to the school soaredlet >> but they are soaring because they are tax exempt. to bill's point. the colleges and universities are out of control because they are nonprofit. they have 40 administrators for every one student. and i don't know why stunes are giting squeezed when football is so profitable. nand they stand up for the university of the sphoil would children, go ahead, rich. >> and pete carol was running out and scandal trailing him the whole way. sc is a great school and more frominent over time and i don't know how you correlate it to pete carol. >> so far, no one is going for bill baldwin's solution. nand my reform plan would eliminate the ncaa. enthe football. thanks to the web education is upend football will be like the minor leagues for like baseball training and university, you are going to do it on computer and so enjoy it while you can. >> with that thought. we'll look on that for a while. unions strike a busy shopping center of the year and are they going to be scrooge that wreaks holiday sales. u.s. businesses are coughing up thieve
why pete carol arrived and donations to the school soaredlet >> but they are soaring because they are tax exempt. to bill's point. the colleges and universities are out of control because they are nonprofit. they have 40 administrators for every one student. and i don't know why stunes are giting squeezed when football is so profitable. nand they stand up for the university of the sphoil would children, go ahead, rich. >> and pete carol was running out and scandal trailing him the...
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Nov 24, 2012
11/12
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obama's plan to keep the taxes low bush tax cuts and obama tax cuts. to keep it low. i think it should be agreed to right along the wape discuss whether or not the millionaires should pay the clin ribiton tax rates. millionaires themselves n and polls show they need to pay more taxes and percent of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want to talk about taxes. let's also take a look at entitlements and speppeding cuts and so far, the white house hasn't put forward anything on paper that they are willing to discuss. >> that is one of the hardcore issues here. there is an idea coming from the democrats we are going to raise taxs and off set it by raising taxings. we have a staggering economy and unemployment and we'll hit 50 million americans on food stamps and no end for that number to constantly grow even as unemployment rates went down. we are adding to people on food stamps which doesn't make sense. how do youriform th
obama's plan to keep the taxes low bush tax cuts and obama tax cuts. to keep it low. i think it should be agreed to right along the wape discuss whether or not the millionaires should pay the clin ribiton tax rates. millionaires themselves n and polls show they need to pay more taxes and percent of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want...
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Nov 23, 2012
11/12
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why saxby chambliss is ditching the pledge he made to anti-tax activist grover norquist. what it means for the battle over the budget. >> nobody signed any pledge with me. the pledge is to the american people. americans for tax reform, my organization, shares it with all candidates, republicans and democrats. but the pledge is to the american people. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, evertime. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpn pie. and apple. 3% back on 4 trips to the airport. it's as easy as.. -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you. [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than man
why saxby chambliss is ditching the pledge he made to anti-tax activist grover norquist. what it means for the battle over the budget. >> nobody signed any pledge with me. the pledge is to the american people. americans for tax reform, my organization, shares it with all candidates, republicans and democrats. but the pledge is to the american people. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, evertime. 2%...
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Nov 24, 2012
11/12
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so, that's what we could give more tax cuts, more tax breaks to corporations, that create these job training programs. >> okay, and i can't believe i'm listening to this, rick. >> rick: less than a minute, go ahead and respond. >> okay, but poor people in this country have it too good and we need to give tax cuts to corporations. >> that's not what i said. >> that's exactly what you said. >> that's not what i said. >> and when we've never had this big a gap between the rich and middle class in this country we need to look at reforming corporate welfare not getting poor people-- >> angela do you want to respond to this before we run out of time. >> now what it's sad that liberals want to treat the poor as second class citizens keep them on the federal plantation, just come vote for us and get a free check. give people a job to give them integrity and dignity. >> rick: angela. >> people are looking for jobs right now. 8% unemployment almost. >> rick: this started off really, really nicely somewhere along the lines we went off the rails a little bit, but we have a couple more weeks to talk abou
so, that's what we could give more tax cuts, more tax breaks to corporations, that create these job training programs. >> okay, and i can't believe i'm listening to this, rick. >> rick: less than a minute, go ahead and respond. >> okay, but poor people in this country have it too good and we need to give tax cuts to corporations. >> that's not what i said. >> that's exactly what you said. >> that's not what i said. >> and when we've never had this big a...
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Nov 27, 2012
11/12
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reform with lower tax rates. the pledge you mentioned is identified with americans for tax reforms grover norquist who has gotten many republicans to promise they won't vote to raise taxes. south carolina senator lindsey graham is pushing back saying capping deductions would help generate revenue. the top republic on the senate budget committee explained graham's position. >> he is conditioning any tax increase on fixing these programs, social security and medicare, particularly in making sure that they are sound for the future. so that's lindsey's position. and he has talked about accepting revenue to accomplish that goal. >> republicans continue saying they don't want to increase tax rates arguing that will hurt job growth. democrats say the middle class could be spared from a tax increase now. >> however as we continue to negotiate a responsible path forward i remind everyone within the sound of my voice of one fact. this congress is where one vote away from avoiding the fiscal cliff for middle class families
reform with lower tax rates. the pledge you mentioned is identified with americans for tax reforms grover norquist who has gotten many republicans to promise they won't vote to raise taxes. south carolina senator lindsey graham is pushing back saying capping deductions would help generate revenue. the top republic on the senate budget committee explained graham's position. >> he is conditioning any tax increase on fixing these programs, social security and medicare, particularly in making...
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Nov 24, 2012
11/12
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tax loopholes. speaker boehner says i'm willing to break it and do the latter on deductions and exemptions and saxby chambliss the senator said it's time to ditch grover and his pledge, is it? >> all bets are off. i mean, listen, we're in a mess and all bets are off and we shouldn't be held to political organizations that are influencing our elections in terms of getting this mess taken care of, but you know, listen, i have a novel idea for the president. why doesn't he public size an itemized list of his spending cuts he's prepared to put on the table before asking american people to pay taxes. i mean, it's simple. when you have a credit card debt and you don't ask other people to pay for it or you don't borrow money to pay the interest on it, you make hard choices on your discretionary spending from a weekly basis or a monthly basis, this is just a business that's been run poorly and it's-- >> would you agree the president doesn't have a terribly good track record when it comes for proposals for b
tax loopholes. speaker boehner says i'm willing to break it and do the latter on deductions and exemptions and saxby chambliss the senator said it's time to ditch grover and his pledge, is it? >> all bets are off. i mean, listen, we're in a mess and all bets are off and we shouldn't be held to political organizations that are influencing our elections in terms of getting this mess taken care of, but you know, listen, i have a novel idea for the president. why doesn't he public size an...
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Nov 25, 2012
11/12
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. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come from an increase on the tax rates of top earners, which is currently 35%. >> let the rates go up to 39. let us also take a look at the deductions. let's make sure that revenue is an integral part of deficit reduction. from my side of the table, bring entitlement reform into the conversation. social security, set aside, doesn't add to the deficit. when it comes to medicare and medicaid, protect the integrity of the program, but give it solvency for more and more years. >> reporter: a source with engine of knowledge -- with knowledge of the negotiation says there is no dat
. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come...
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Nov 24, 2012
11/12
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let's hope that the tax situation doesn't get out of control and hope all of the negative things that could happen don't happen, but if they do happen, you're right, arthel, get ready because january and february are going to be rough months out there. >> arthel: well, we hope it doesn't come to that. we want everyone to have a, you know, good income and et cetera. and by the way, as someone told me you have pretty deep pockets if you want to buy me a christmas gift, no problem. (laughter) >> i already did. that's what i've done all weekend. >> arthel: good answers, ed butowsk butowsky. >> rick: you let me know if he sends you something. >> arthel: i will. >> rick: and new concerns over a sweeping new power grab from the president of egypt. how should the u.s. react? a fair and balanced look is ahead. >> plus a look at the hottest toys on the market right now. there's some of them. find out what is sure to make you a big hit with the little ones this-- that's cute, this holiday season. can't wait to see that one. al, sven gets great rewards for his small business! how does this thing
let's hope that the tax situation doesn't get out of control and hope all of the negative things that could happen don't happen, but if they do happen, you're right, arthel, get ready because january and february are going to be rough months out there. >> arthel: well, we hope it doesn't come to that. we want everyone to have a, you know, good income and et cetera. and by the way, as someone told me you have pretty deep pockets if you want to buy me a christmas gift, no problem....
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Nov 26, 2012
11/12
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or effective tax rates. there is ways of doing that. secondly, though, we've got to close significant loopholes. >> bottom line, getting back to the report, the president is asking congress it act now specs tend the tax cuts for the middle class. they say the holiday season is not a time to threaten middle class pocketbooks. back to you. >> steve: thanks very much. the white house wants all the people who voted for barak obama to flood congressmen with e-mail and also with video messages via youtube saying why we should raise taxes on the rich. >> gretchen: so it's mainly for conservative democrats and to sway some republicans in those districts. we asked what you thought about this. will it change members of congress' mind? here is marge, cut all loopholes, subsidies and reduce spending equally but do not raise taxes. >> steve: here is a tweet from heather. it would say do your job, pass a balanced budget like required by law. no more closed door secret tax meetings. >> brian: more e-mails and tweets coming
or effective tax rates. there is ways of doing that. secondly, though, we've got to close significant loopholes. >> bottom line, getting back to the report, the president is asking congress it act now specs tend the tax cuts for the middle class. they say the holiday season is not a time to threaten middle class pocketbooks. back to you. >> steve: thanks very much. the white house wants all the people who voted for barak obama to flood congressmen with e-mail and also with video...
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Nov 25, 2012
11/12
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and else's on the side of not increasing taxes. but they have to find some common ground though it's hard to see what that will be today. >> well, it's going to be a courageous time for john boehner, does he hold down? he's one guy you want want to be right now. even if he's in a deal he's going to want to have him out. >> he's he been on conference calls with every member of the republican caucus and had to lay this out for all of them and some republicans have gone out and sort of fallen in line with him and others spoken out publicly, under no circumstances will i raise taxes, it will be interesting where they raise revenue. can they do it by lightning deductions and-- >> they do the write-offs and the deductions. >> but the president had one to raise on the wealthiest americans. >> dave: the president two years ago says we cannot raise taxes with the growth levels. >> alisyn: not that president, the election president. >> dave: my mistake, everyone. >> alisyn: it's hard to know what they will do, but this week should be telling
and else's on the side of not increasing taxes. but they have to find some common ground though it's hard to see what that will be today. >> well, it's going to be a courageous time for john boehner, does he hold down? he's one guy you want want to be right now. even if he's in a deal he's going to want to have him out. >> he's he been on conference calls with every member of the republican caucus and had to lay this out for all of them and some republicans have gone out and sort of...
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Nov 24, 2012
11/12
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raise taxes on anybody, and so, now president obama is saying we're going to raise the taxes on the rich and he won't sign any bill that doesn't have a tax increase on the rich, so, the two parties are still at logger heads. i personally think given the still fragility of this economic recovery, the economy still isn't sputtering on one cylinder now, and high unemployment. it doesn't make sense to me to raise taxes on businesses or investors. that's where we stand right now. i don't see an agreement anytime really soon because the two sides are still so far apart. >> i'm a betting man, steven, would you imagine that the house republicans would give on raising rates for the wealthy? they certainly have to acknowledge that the tax-- the bush tax cuts for those making less than 250 have to be extended, that has to happen. >> that's right, that's right. >> dave: what about the top 2%? what about happen in your best guest? >> what john boehner said, and i interviewed mitch mcconnell the house minority leader in the senate on this and basically their position right now is we will agree he
raise taxes on anybody, and so, now president obama is saying we're going to raise the taxes on the rich and he won't sign any bill that doesn't have a tax increase on the rich, so, the two parties are still at logger heads. i personally think given the still fragility of this economic recovery, the economy still isn't sputtering on one cylinder now, and high unemployment. it doesn't make sense to me to raise taxes on businesses or investors. that's where we stand right now. i don't see an...